Investigating the moderating role Accruals Quality on the Relationship between Voluntary Disclosure and Information Asymmetry

Subject Areas :

Mehdi Meshki Miavaghi ^{1 *} , Neda Fallah Soleymandarabi ²

1 - Associate Prof., Faculty of accounting, payame Noor University, Tehran, Iran
2 - Master of Accounting, Kooshyar Higher Education Institute, Rasht, Iran.

Received: 2022-08-27 Accepted : 2024-12-03 Published : 2026-01-25

Keywords: Accruals Quality, Information Asymmetry, Stock Return Volatility, Trading Volume Turnover, Voluntary Disclosure,

Abstract :

The main purpose of this study is to investigate the effect of accrual quality on the relationship between Voluntary disclosure and information asymmetry. The statistical population of the study includes companies listed on the Tehran Stock Exchange. After applying targeted constraints, 140 companies in the period 2014 to 2020 were selected from the statistical population and the relationships between research variables were analyzed using static panel data and the generalized least squares method. In this study, to measure the variable of information asymmetry, two indicators of standard deviation of stock return and trading volume turnover were used. The results show a higher sensitivity of the stock return standard deviation to the level of optional disclosure in companies with higher quality accruals compared to other companies. Therefore, it can be concluded that the quality of accruals strengthens the effect of voluntary disclosure on information asymmetry. The results also show that the effect of information disclosure on turnover in companies with high quality accruals is higher compared to other companies. This means that the quality of accruals strengthens the positive relationship between discretionary disclosure and turnover. This can also be seen as reinforcing the negative relationship between voluntary disclosure and information asymmetry.